Trump eyes super luxury realty projects in India

MUMBAI: Donald Trump may have issued a flurry of protectionist statements but the real estate tycoon and front runner for the Republican nomination for President of the United States is eyeing growth in his business in India.

“We have had tremendous success in India with two amazing projects in Pune and Mumbai and we have a very aggressive pipeline in the north and east,” said Donald Trump Jr. The company has two super luxury projects in the country at present, including a twin tower 46-apartmenet block with Panchshil Realty in Pune and an under-construction 300-apartment project in the heart of Mumbai at Lower Parel with Lodha Group.

“I look forward to being back in India soon to celebrate not only the milestones of our existing great developments but also for the announcement of several exciting new projects,” said Donald Trump Jr. The company is targeting Mumbai, Pune, National Capital Region, Bengaluru, Chennai, Hyderabad and Goa among locations with good demand for super luxury properties. It also has business interests in hospitality, golf courses and casinos.

“The Trump Organization is extremely bullish on India. The plan is to build a pan-India development business for Trump branded residential and office projects,” Kalpesh Mehta, managing partner at Tribeca Developers said. Tribeca Developers is Trump Organization’s exclusive representative in India and it is responsible for supporting the brand in all aspects of building business here.

“We have projects in the pipeline in north and east India and are actively looking for projects in the south. We are working towards making India the largest revenue generating market for Trump after North America over the next 10 years,” Mehta said. He said the Trump brand has done well in India with both the projects performing well in terms of sales, price premiums and delivery. Trump’s developer partners in India have reaped the benefits of their alliance with the brand and are keen to work further with the organisation.

Sagar Chordia, director of Panchshil Realty said their project received 25% premium on prices. “We have had a very positive and professional working relationship with the Trumps. Donald Trump adds his own flair to the brand, of course. We will be happy to launch a few more projects with the brand as the response has been fantastic for the first project, which is the first ready Trump property in India,” he said.

A spokesperson of Lodha Group said Trump has a strong sense of luxury and servicing and the Mumbai-based developer’s alliance with the global brand has been a very positive experience. “We have already sold around 60% of the project and the alliance with Trump has helped us receive over 30% premium over other projects in the locality,” the spokesperson said.

He said there is a lot to learn from Trump Organization since it is the biggest real estate brand in the world. Trump’s India partners hope to see him move ahead in the race to become president and expect that this will strengthen India-US relationship. “Trump has a positive outlook on India.

He feels that India is doing great but does not get the attention it deserves. He has a great ongoing relationship with Panchshil Realty here in India along with some other partners.

The relationship between US and India will only blossom further if he becomes the US President,” said Chordia. Trump had visited India in August 2014 and hailed Narendra Modi’s election as prime minister. “Money will pour into India…The perception about India has changed. The optimism is returning,” he had told ET at the time.

Currently, the Goods and Services Tax (GST) is levied at 12 per cent on payments made for under-construction property or ready-to-move-in flats where completion certificate has not been issued at the time of sale.